The mounting feeling for the need of strengthening fraternity bonds and consolidating steps enhancing economic cooperation among countries sharing common characteristics, objectives, and destiny had led to entertaining the idea of establishing a federation comprising the chambers of commerce, industry, and agriculuture in the arab Gulf states.
Preliminary meetings in October 1976, attended by the federations and chambers of the seven Gulf Arab States, of Kingdom of Bahrain, State of Kuwait, Sultanate of Oman, State of Qatar, Kingdom of Saudi Arabia, United Arab Emirates, and the Republic of Iraq paved the way for establishing the Federation of the Chambers of Commerce, Industry and Agriculture of the Arab Gulf States (FAGCC ). In October 1979, the Federation was officially launched and Dammam – Kingdom of Saudi Arabia, was named as the host city . In 1990, and as a result of the Iraqi regime invasion of Kuwait, the Federation's Council dropped Iraq's membership and renamed the Federation as The Federation of GCC Chambers ( FGCCC ).
The Representation of the GCC private sector in arab, regional & international forums and present the GCC business views and Visions and coordinate their positions regarding the various economic issues and policies.
The federation supports the active role of GCC businessmen in developing their national economies within an integrated GCC economy based on the fact that the GCC private sector - whose governments provide with the appropriate legislative and organizational frameworks - is the basis and motivator of development. Furthermore, economic freedom based on equality of opportunity and competition and the abolition of monopoly and exploitation in all forms are the appropriate means for realizing prosperity, justice and balanced society. They constitute the most effective ways for the creation and development of a dignified and rewarding employment opportunities as well as for the enhancement of the productive and creative capabilities of GCC citizens and their optimal utilization.
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